Golden Matrix Group Inc

NASDAQ:GMGIUnited States

Nov 12, 2024

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• -- Earnings Flash (GMGI) GOLDEN MATRIX GROUP Posts Q3 Revenue $41M, from 8:07AM ET on Tuesday Nov 12, 2024 by MT Newswires

  8:07AM ET on Tuesday Nov 12, 2024 by MT Newswires
  Companies Mentioned: GMGI
  08:07 AM EST, 11/12/2024 (MT Newswires) -- ...

• Golden Matrix Group Inc. Reports Strong Q3 2024 Earnings and Continued Operational Growth, from 8:00AM ET on Tuesday Nov 12, 2024 by Dow Jones

  8:00AM ET on Tuesday Nov 12, 2024 by Dow Jones
  Companies Mentioned: GMGI
  par value, 1,000 shares designated, 1,000 and 1,000 shares issued and outstanding, respectively - - Common stock: $0.00001 par value; 300,000,000 shares authorized; 120,801,977 and 83,475,190 shares issued and outstanding, respectively $ 1,227 $ 835 Stock payable 120,000 - Stock payable - related party 120,664 - Additional paid-in capital 38,431,527 3,044,894 Treasury stock, at cost (September 2024 -- 700 shares) (1,671) - Accumulated other comprehensive income (loss) (3,595,263) (3,307,578) Accumulated earnings 59,177,236 59,296,675 ----------- ---------- Total shareholders' equity of GMGI 94,253,720 59,034,826 ----------- ---------- Noncontrolling interests 4,334,097 951,723 ----------- ---------- Total equity 98,587,817 59,986,549 ----------- ---------- Total liabilities and equity $213,491,765 $79,852,980 =========== ========== Golden Matrix Group, Inc and Subsidiaries Consolidated Statements of Operations and Comprehensive Income (Unaudited) Three Months Ended Nine Months Ended September 30, September 30, --------------------------- ------------------------------ 2024 2023 2024 2023 ----------- ---------- ----------- ----------- Revenues $ 40,992,329 $22,209,657 $105,258,158 $ 67,724,779 Cost of goods sold (18,589,162) (6,116,688) (43,477,519) (17,943,260) ----------- ---------- ----------- ----------- Gross profit 22,403,167 16,092,969 61,780,639 49,781,519 Operating expenses Selling, general and administrative expenses 23,379,550 12,863,262 58,937,789 37,797,023 Income from operations (976,383) 3,229,707 2,842,850 11,984,496 ----------- ---------- ----------- ----------- Other income (expense): Interest expense (790,193) (4,049) (827,048) (31,930) Interest earned 58,475 25,807 163,023 35,532 Foreign exchange loss (219,060) 366,183 (337,581) 320,852 Other income 495,654 219,145 1,498,563 725,372 ----------- ---------- ----------- ----------- Total other income (455,124) 607,086 496,957 1,049,826 ----------- ---------- ----------- ----------- Net income before tax (1,431,507) 3,836,793 3,339,807 13,034,322 Provision for income taxes 1,864,122 316,733 2,670,788 1,148,270 ----------- ---------- ----------- ----------- Net income $ (3,295,629) $ 3,520,060 $ 669,019 $ 11,886,052 =========== ========== =========== =========== Less: Net income (loss) attributable to noncontrolling interest 109,935 41,771 18,924 171,159 ----------- ---------- ----------- ----------- Net income attributable to GMGI $ (3,405,564) $ 3,478,289 $ 650,095 $ 11,714,893 =========== ========== =========== =========== Weighted average ordinary shares outstanding: Basic 121,510,697 83,475,190 108,570,269 83,475,190 Diluted 121,510,697 83,475,190 115,016,974 83,475,190 Net income per ordinary share attributable to GMGI: Basic $ (0.03) $ 0.04 $ 0.01 $ 0.14 Diluted $ (0.03) $ 0.04 $ 0.01 $ 0.14 Net income (3,295,629) 3,520,060 669,019 11,886,052 Foreign currency translation adjustments 1,818,258 (1,492,622) (287,685) (1,316,847) ----------- ---------- ----------- ----------- Comprehensive income (1,477,371) 2,027,438 381,334 10,569,205 Less: Net income (loss) attributable to noncontrolling interest 109,935 41,771 18,924 171,159 ----------- ---------- ----------- ----------- Comprehensive income attributable to GMGI (1,587,306) 1,985,667 362,410 10,398,046 =========== ========== =========== =========== Reconciliation of Net Income to Adjusted Earnings excluding Interest Expense, Interest Income, Tax, Depreciation Expense, Amortization Expense, Stock-based Compensation Expense, and Restructuring Costs. Three Months Period Ended Nine Months Period Ended ------------------------- ---------------------------- 30-Sep-24 30-Sep-23 30-Sep-24 30-Sep-23 ------------ ----------- ------------ -------------- Net income $(3,295,629) $3,520,060 $ 669,019 $11,886,052 + Interest expense 790,193 4,049 827,048 31,930 - Interest income (58,475) (25,807) (163,023) (35,532) + Taxes 1,864,122 316,733 2,670,788 1,148,270 + Depreciation 1,145,210 878,516 3,173,473 2,670,258 + Amortization 1,962,157 473,047 4,317,523 1,357,453 ---------- --------- ---------- ---------- EBITDA $ 2,407,578 $5,166,598 $11,494,828 $17,058,431 + Stock-based compensation 1,614,751 - 3,252,803 - + Restructuring costs 314,555 112,488 906,286 313,699 ---------- --------- ---------- ---------- Adjusted EBITDA $ 4,336,884 $5,279,086 $15,653,917 $17,372,130 ========== ========= ========== ==========
  

• Press Release: Golden Matrix Group Inc. Reports Strong Q3 2024 Earnings and Continued Operational Growth, from 8:00AM ET on Tuesday Nov 12, 2024 by Dow Jones

  8:00AM ET on Tuesday Nov 12, 2024 by Dow Jones
  Companies Mentioned: GMGI